By Wendy Van Sickle
Columbus, Ohio, Oct. 2 – GS Finance Corp. priced $11.99 million of 0% trigger autocallable gears due Sept. 29, 2028 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index closes at or above its initial level on Oct. 3, 2024, the notes will be automatically called at par plus 10%.
If the notes are not called and the index finishes at or above its initial level, the payout at maturity will be par plus 2.34 times the index gain.
If the index declines but finishes above its 75% downside threshold level, the payout will be par. Otherwise, investors will lose 1% for every 1% that the index’s final level is below its initial level.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the underwriter with UBS Financial Services Inc. as selling agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Trigger autocallable gears
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| Underlying index: | S&P 500
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| Amount: | $11,987,200
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| Maturity: | Sept. 29, 2028
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| Coupon: | 0%
|
| Price: | Par of $10
|
| Call: | At par plus 10% if the index closes at or above its initial level on Oct. 3, 2024
|
| Payout at maturity: | If index gains, par plus 2.34 times the gain; par if index falls by 25% or less; full exposure to losses if index finishes below downside threshold level
|
| Initial index level: | 4,273.53
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| Downside threshold: | 2,911.03, 75% of initial level
|
| Pricing date: | Sept. 26
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| Settlement date: | Sept. 29
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| Underwriter: | Goldman Sachs & Co. LLC
|
| Selling agent: | UBS Financial Services Inc.
|
| Fees: | 0%
|
| Cusip: | 36266M294
|
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